NEW YORK CITY — Novartis has renewed and extended its 15,865-square-foot office lease at 10 Bryant Park in Midtown Manhattan. The deal keeps the Swiss pharmaceutical giant on the entire 12th floor of the building, which was originally constructed in 1902, via a five-year extension. David Stockel of CBRE represented Novartis in the lease negotiations. JLL represented the landlord, Property & Building Corp.
CELEBRATION, FLA. — JLL has brokered the $31.5 million sale of Celebration Office Center, a two-building office complex located at 1170 and 1180 Celebration Blvd. in Central Florida. Robbie McEwan, Hunter Smith and Blake Koletic of JLL represented the seller, Real Estate Value Advisors, in the transaction and procured the buyer, TMT Properties. Built in 2000 and 2001, the property is situated within the Celebration master-planned community and in close proximity to Walt Disney World and Universal Studios. Celebration Office Center was 98 percent leased at the time of sale.
DOWNERS GROVE AND SCHAUMBURG, ILL. — Colliers has negotiated two new office leases totaling 33,771 square feet in the western suburbs of Chicago. In the first transaction, Mason Logistics leased 20,971 square feet in the master-planned Esplanade at Locust Point development in Downers Grove. The transportation, warehousing and supply chain services company will relocate from 1815 S. Meyers Road in Oakbrook Terrace, where it maintains roughly the same footprint, in August. Sven Sykes, Tom Volini and Brent Jacob of Colliers represented the tenant. Phil Sheriden represented the landlord, Hamilton Partners, on an internal basis. Sykes and Volini arranged a 12,800-square-foot lease for Meltzer, Purtill & Stelle LLC at Schaumburg Towers in Schaumburg. The law firm will vacate its 12,800 square feet at 1515 Woodfield Road, also in Schaumburg, in August. Doug Shehan and Dan Svachula of JLL represented ownership. Schaumburg Towers totals 890,000 square feet across two 20-story buildings.
DALLAS — Local provider of global business communications management services 46 Labs has opened a 25,000-square-foot office in the historic West End area of Dallas. The company is relocating from 1701 Market St. to a former bread factory that was most recently occupied by Sam’s Club Innovation Center. The new office seats 50 employees and features three conference rooms, four private offices and multiple working spaces and private pods. Mike Kay led the Colliers team that represented 46 Labs in its site selection and lease negotiations.
CAMBRIDGE, MASS. — Biogen Inc. (NASDAQ: BIIB) has unveiled plans for its new global headquarters in Cambridge, located across the Charles River from Boston. The biotechnology company has selected Kendall Common, located at 75 Broadway, as the site of its new hub as part of a multi-year consolidation plan in Massachusetts that encompasses Biogen’s existing facilities in the Kendall Square area of Boston. Specifically, Biogen has signed a 15-year lease to occupy 580,000 square feet of office and life sciences space at Kendall Common, which is being developed by a joint venture between Blackstone subsidiary BioMed Realty and the Massachusetts Institute of Technology (MIT) Investment Management Co. The space will feature upgraded workspaces and modern amenities, along with sustainable design elements such as advanced water conservation measures and energy-efficient systems. In addition, the building will house the Biogen CoLab, a classroom-style community laboratory and collaborative space. Occupancy is slated for 2028.
IRVING, TEXAS — Marcus & Millichap has brokered the sale of O’Connor Ridge, a 126,790-square-foot office building in Irving. The four-story building was constructed in 1980 and houses 30 suites. Ron Hebert, Joseph Jaques, David Fersing, Nick Fluellen and Bard Hoover of Marcus & Millichap represented the California-based seller in the transaction. Hebert and Jaques also procured the locally based buyer. Both parties requested anonymity.
SAN DIEGO — NorthStar Homes has purchased Canon Street Marina Center, a retail and office center in San Diego’s Point Loma Village submarket, from Canon Street Properties for $8.2 million. The transaction includes two adjacent properties located at 2810-2832 Cañon St. and and 1101-1111 Scott St. At the time of sale, the property was fully leased to nine tenants. Kyle Clark of Intersection CRE represented the seller, while Joe Virgilio of Strom Commercial represented the buyer in the deal.
NEW YORK CITY — Creative design and branding agency Tag Wall has signed a 26,366-square-foot office sublease at 1745 Broadway in Midtown Manhattan. The space spans the entire eighth floor of the 26-story, 780,525-square-foot building. Richard Bernstein, Adam Ardise, Stephen Bellwood, Lei-Lani Keelan and Troy Elias of Cushman & Wakefield represented the sublandlord, Penguin Random House, in the sublease negotiations. Matt Astrachan, Ben Bass, Harrison Potter and Kate Roush of JLL represented Tag Wall. Atlanta-based Invesco Real Estate owns 1745 Broadway.
CHICAGO — Tishman Speyer has inked a 240,000-square-foot office lease renewal with BP at CME Center in Chicago’s West Loop. Global energy leader BP will maintain the same footprint it currently occupies on the entire seventh through 10th floors of 10, 20 and 30 South Wacker Drive. A tenant at the property since 2009, BP’s lease renewal will keep its Chicago office at the campus through at least 2032. CME Center consists of two 40-story office towers, which are connected by a 10-story center structure. Completed in phases during the 1980s, the 2.3 million-square-foot property holds the distinction of being Chicago’s first all-concrete skyscraper. Working with Chicago-based architect Krueck Sexton Partners, Tishman Speyer recently completed a reimagining of CME Center’s lobby, façade and entrances, and expanded the amenity offerings. Tenants and their guests now have access to ZO Clubhouse, an amenity center with a lounge, library, bar area, huddle and wellness rooms, a boardroom and conference room. There is also a 19,500-square-foot fitness facility. Tenants at CME Center include Chicago Mercantile Exchange, Wells Fargo, Reed Smith and RSM. Ellen May represented Tishman Speyer on an internal basis. Matt Carolan, Andy Strand and Kevin Morgan of JLL represented BP.
NEWPORT BEACH, CALIF. — CBRE has facilitated the sale of 1419 Superior Avenue, a medical office building in Newport Beach, to a local owner-user. Equity Enterprises Ltd. sold the property for $5 million. Anthony DeLorenzo, Sammy Cemo, Bryan Johnson and Harry Su of CBRE represented the seller in the deal. Situated across from the 498-bed acute care hospital Hoag Newport Beach, the 8,935-square-foot building was 62 percent leased at the time of sale to four tenants.